Steve Wozniak is one of many technologists who love cryptocurrencies but believe they will never escape government control. He praised the tech entrepreneur, Twitter CEO, and crypto enthusiast Jack Dorsey, who co-founded Apple with Steve Jobs in 1976, for sparking conversations about how cryptocurrencies should be “at the heart of our business relationships.”
“The problem is, governments will never let this get out of their control,” he told Yahoo Finance in an interview on Friday. If it got to the point where everything is done with cryptocurrencies, if it didn’t go through governments for surveillance and taxation, governments wouldn’t allow it. They wouldn’t give up their power.” used the phrases.
However, Wozniak thinks that digital currencies will turn into a functional payment method.
“Yes, I am in that camp where cryptocurrencies will be used effectively. We now have so many digital ways to pay for things, even just to transfer money to people.”
Still, he isn’t sure if the anonymity that cryptocurrencies have when compared to other forms of digital payment – as their holders are harder to identify and track – is a good thing.
“Crypto has some anonymity. And I don’t know if that’s true or not.”
However, CoinFlip CEO Ben Weiss has argued that crypto anonymity is a big misunderstanding. He stated that people cannot purchase cryptocurrencies without going through “know your customer” checks and providing some form of identification.
Besides, Wozniak explained that he likes Bitcoin because its supply is limited. “Look at the US dollar – the government can only create new dollars and borrow money,” he said.
“Bitcoin is math, mathematical purity. No other bitcoin can ever be created.”
Beyond digital money, Wozniak also praised the promise and potential use cases of blockchains. in a nutshell Apple co-founderHe thinks that cryptocurrencies can be used effectively for payments, and while he loves Bitcoin, he warns that governments will never give up their control over cryptocurrencies.